Express Rivera Company’s partial comparative income statements

Vertical Analysise4A.aCCounting ConneCtion▶ Express Rivera Company’s partial comparative income statements as common-size statements, and comment on the changes from 2013 to 2014.Rivera CompanyPartial Comparative Income StatementsFor the years ended December 31, 2014 and 201320142013Net sales$424,000$368,000Cost of goods sold254,400239,200Gross margin$169,600$128,800Selling expenses$106,000$ 73,600General expenses50,88036,800Total operating expenses$156,880$110,400Operating income$ 12,720$ 18,400